ATC completes acquisition of Vodafone India mobile towers

New Delhi, April 3 (IANS) ATC Telecom Infrastructure Private Limited, a subsidiary of American Tower Corporation (ATC), announced on Tuesday that it has completed its previously announced acquisition of Vodafone India’s telecommunications site business, which consists of approximately 10,200 towers, for total cash consideration of around Rs 3,800 crore.

"We are pleased to acquire this portfolio, which will complement our existing footprint and help us serve our tenants in India as they expand 4G services in the coming years," said Amit Sharma, American Tower’s EVP and President, Asia stated.

Earlier in November last year Vodafone India got into an agreement to sell its towers to ATC.